In news we secretly all knew anyway, it turns out that university graduates from wealthier families ‘earn significantly more’ than their working class opposites.
Apparently, graduates born into rich families earn literally thousands more than their poorer counterparts – even when they study the same degrees at the same universities.
As the wage gap row continues to rage, a report conducted by the Institute for Fiscal Studies (IFS) found that those with wealthy parents earn at least 10 per cent more per year than their peers by the age of 30, reports the BBC.
That might not sound like too much but this translates to roughly about £8,000 extra a year for privileged men, and £5,300 a year for privileged women.
The chief executive of the Million+ group of new universities, Pam Tatlow, said:
More than anything else these findings confirm that Britain remains a society in which some are born clutching a golden ticket that provides a passport to higher earnings regardless of where and what people study.
Perhaps even more shocking is that graduates from the wealthiest 20 per cent of families can expect to earn 30 per cent more than the remaining 80 per cent of the graduate population.
The study also found that 10% of male graduates from the London School of Economics, Oxford, and Cambridge were earning more than £100,000 a decade after graduating.
The exclusive report examined 260,000 graduates’ tax and student loan records in England.
Though this news is utterly degrading, unfortunately we live in a society where I can’t say I’m too surprised to hear it.